Gitte Schjotz Sells 12,015 Shares of UL Solutions (NYSE:ULS) Stock

UL Solutions Inc. (NYSE:ULS) insider Gitte Schjotz sold 12,015 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $99.71, for a total transaction of $1,198,015.65. Following the transaction, the insider directly owned 69,206 shares of the company’s stock, valued at $6,900,530.26. This represents a 14.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Gitte Schjotz also recently made the following trade(s):

• On Wednesday, June 3rd, Gitte Schjotz sold 9,865 shares of UL Solutions stock. The stock was sold at an average price of $96.98, for a total transaction of $956,707.70.
• On Thursday, May 7th, Gitte Schjotz sold 8,000 shares of UL Solutions stock. The stock was sold at an average price of $103.96, for a total transaction of $831,680.00.

UL Solutions Price Performance

Shares of ULS opened at $96.80 on Friday. The stock has a market capitalization of $19.51 billion, a P/E ratio of 56.61, a P/E/G ratio of 3.86 and a beta of 0.63. UL Solutions Inc. has a twelve month low of $61.64 and a twelve month high of $107.54. The company has a 50 day moving average of $93.40 and a 200-day moving average of $84.39. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.27.

UL Solutions (NYSE:ULS) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.08. UL Solutions had a net margin of 11.24% and a return on equity of 30.99%. The company had revenue of $758.00 million during the quarter, compared to analysts’ expectations of $748.50 million. During the same period last year, the business earned $0.37 EPS. The business’s quarterly revenue was up 7.5% on a year-over-year basis. As a group, equities research analysts forecast that UL Solutions Inc. will post 2.1 EPS for the current fiscal year.

UL Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 8th. Investors of record on Friday, May 29th will be paid a $0.145 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.58 annualized dividend and a dividend yield of 0.6%. UL Solutions’s dividend payout ratio (DPR) is currently 33.92%.

Hedge Funds Weigh In On UL Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its position in UL Solutions by 349.3% during the first quarter. Parallel Advisors LLC now owns 301 shares of the company’s stock worth $26,000 after purchasing an additional 234 shares during the period. Argent Capital Management LLC boosted its position in UL Solutions by 53.9% during the first quarter. Argent Capital Management LLC now owns 76,644 shares of the company’s stock worth $6,569,000 after purchasing an additional 26,828 shares during the period. CTC Alternative Strategies Ltd. bought a new position in UL Solutions during the first quarter worth $300,000. Bank of America Corp DE boosted its position in UL Solutions by 68.2% during the first quarter. Bank of America Corp DE now owns 113,623 shares of the company’s stock worth $9,739,000 after purchasing an additional 46,071 shares during the period. Finally, Centaurus Financial Inc. boosted its position in UL Solutions by 11.3% during the first quarter. Centaurus Financial Inc. now owns 2,516 shares of the company’s stock worth $216,000 after purchasing an additional 255 shares during the period.

Analyst Upgrades and Downgrades

ULS has been the subject of several analyst reports. Bank of America raised their target price on shares of UL Solutions to $86.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Raymond James Financial reissued an “outperform” rating and issued a $115.00 target price on shares of UL Solutions in a research note on Wednesday, May 6th. Robert W. Baird decreased their target price on shares of UL Solutions from $97.00 to $96.00 and set an “outperform” rating for the company in a research note on Friday, February 20th. UBS Group raised their target price on shares of UL Solutions from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of UL Solutions from $88.00 to $108.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $101.54.

About UL Solutions

UL Solutions (NYSE: ULS) is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters’ Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company’s core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.